Personal Finance News

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million

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This Week's Personal Finance News Update

01/11/12 - Money advice in increasing demand, says study
31/10/12 - Payment barriers exist for disabled and older people, says study
31/10/12 - Gender differences apparent when financial planning
31/10/12 - Half of Brits shop with a basic credit card, says study
30/10/12 - Number of Brits sitting on forgotten direct debits - 2.68 million
30/10/12 - More than half of parents are unaware of Junior ISAs
30/10/12 - Over 80% of advisers name 'cost & administration' as top employer concern
30/10/12 - Brits left with £1.4bn repair bill during 'mischief week'
29/10/12 - East of England landlords at apex of yield chart
29/10/12 - Buyers more optimistic about Scottish property market

News

02/07/2012 13:10:20

Young people committed to getting on housing ladder

Just over a third of all 18 to 34-year-olds are committed to buying a property in the near future.

Research from Post Office Mortgages found that young men are more likely to be planning to buy than women (36 per cent versus 32 per cent) and also expect to save more of a deposit (18 per cent compared to 14 per cent).

Explaining their desire to get on the property ladder, 41 per cent of women and 33 per cent of men believe it is a better use of their money than renting. Women are also more likely to consider an unfurnished property or one requiring DIY than men.

Regardless of gender, Mike Cook, head of mortgages at Post Office, said that it is important to carefully consider such an investment.

"It's a good idea to look at all features [of a mortgage], including the amount you can borrow, as there is still a wide variance in the market," he explained.

"Additionally, look at the longer term value by making sure the rate once the 'fixed' period is over is affordable and transparent."

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